Trident Royalties PLC (AIM:TRR) received royalty payments totalling US$375,000 during the third quarter of 2021, as money from the Mimbula copper project continued to roll in.
It was a period during which the company also continued to build its portfolio, as chief executive Adam Davidson explained.
"It has been another busy quarter for Trident with a number of significant developments related to assets held in Trident's existing portfolio, as well as the acquisition of a new, imminently paying, fully secured gold royalty centred in one of the most historically prolific mining jurisdictions globally,” he said, referring to the new royalty over the Lincoln Gold project.
“The emergence of two potential suitors for Apollo's Lake Rebecca gold project, the progression of the Warrawoona gold project towards construction, and the prospect of first gold production by year end at the Lincoln gold project, highlight a portfolio of precious metal royalties rivalling many of our exclusively precious metal focused peers.”
He also drew attention to the opportunity at Thacker Pass.
"Our largest asset currently is our Thacker Pass lithium royalty,” Davidson said.
“The doubling of the size of the Thacker Pass resource and consideration of a materially larger phase 1 and phase 2 operation represents a significant increase in the value of Trident's royalty since acquisition, especially when coupled with lithium prices that are currently double the original pre-feasibility study assumptions. Given the current outlook for lithium, Thacker Pass is set to continue to be a source of significant and growing value for Trident.”
There was also positive progress at the Koolyanobbing iron ore mine, the Warrawoona gold project, and Talga Talga.
During the period, Trident also welcomed Peter Bacchus to the board as a non-executive. Bacchus brings 25 years of experience as a leading global M&A advisor having held senior roles at Morgan Stanley (NYSE:MS) and Jefferies prior to his current role as chairman and chief executive of Bacchus Capital. Bacchus currently sits on the boards of Gold Fields Limited, Kenmare Resources plc (LSE:KMR) and Galaxy Resources Limited.